S&P estimates that shadow banking in China is worth $3.7 trillion in 2012. Qiang Liao of Standard & Poor’s tells the WSJ’s Jake Lee why these risky investments are being sold across the country.

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I'm the ... through it ... yes ... what is going to go to DVD ... people ... to up to the ... data ... on ... why ... it ... will ... close to ... the euro ... we are ... many owners ... it's ... he asked people he ... will be spent ... because ... they ... will be able ... to our ... dual engine ranking is destined to ... circumvent some history ... the matches that are ... not ... did he know people to go ... so fast and ... the crime ... equal to the world doesn't end well ... I'm ... the ... only difference ... is that ... sure what is it that's pushing certainly people to the shadow banking system it seems ... especially unusual Chinese the moment isn't happening or else who is to what's at play here ... why are we going to be on the go it alone with ... it ... and although our ... the key reason of course he didn't pull on that ... it was easy ... they are really easy to travel to the bull market ... or or ... or ... just all ... wrong ... aam ... I ... projects ... many are ... for us ... it's ... another ... two ... the email from ... some ... crafts let ... go ... that means ... three ... of the banks ... the ... the the the the ... on ... it's just funny what's being done to so ... I'm down this is seen by making a tizzy Nano citizens on their raid on this and ooze out bad but to ski Stay your sense of whether China's Reagan and stop pushing haunted joins the ... countdown ... right ... the unseeded ... he ... knew I get to ... I ... the problem ... is that ... we need this up with whom they will ... the ... bank ... in concert hall ... but we all ... are dead ... and that it matters ... are ... actually ... and he knew ... his goal ... mentions ... the auto ... lender's on the go to ... I know you ... are Hold ... up for the ... growth from within ... and also ... I had to ... they are in both of ... those who remained ... on the basis ... he has all the ... time ... that ... the tremendous ... human being ... so ... hop ... on the ... ground ... its ... credit ... so so today I visited it'll ... I'm ... the issue has been with us ... two ... from this month ... the ... the the the the ... the pool ... I go ... on ... of all this ... the US ... Lowe's change on that that that sounds as if Assange each a watch ... list Chen Lao post on the dimples think he symmetry joining that's it Asia's day but mine GE and formal on the story the skin to tell the state of call ... Margaret Thatcher is now back in the limelight in Asia at least ... as Japan and South Korea's leaders ... paid tribute to her ... welcome to Asia today on my because Sanchanta ... joining me now from Tokyo is Wall Street Journal reporter Yuka hideout she ... yet that the great story in today's paper where basically you say that Prime Minister Abbe ... on and that president of South Korea Mr. Park ... had been paying tribute to some of the pasture tummy little bit about why that's happening now ... ok I we yet ... we know what the article because we've noticed that there is growing up action ... among politicians in both countries ... that the avoided ... looking for strong leaders ... and this is coming at a time of growing ... regional ... and national security um um anxieties ... and also I the difficulty bucking the economic environment ... um so I've that both leaders that needs to have a ... spark of him trying to paint themselves as has shown the year's ... end they have protected their own I he makes ... up against that this is that this ... will force is known as the asthe ion ... I love the little accent that you had in this story ways that I may actually cried when watching the eye in the air now ... it's only the Japanese politicians much less prime ministers admit to crying or something why is I mean tell me about how he invoked her and her limit the other day ... I guess I was I was quite interesting I'm that nice to have it did say that he cried out when he wants and the idea may be that he did not cry when he wants having zero ... I'm ... in a comfy a few weeks after the ... what's ... the movie on DVD ... I he I gave the beak of policy foreign policy speech to Parliament ... and he sported a one line from this this this this that just ... for her biography ... away he she she discussed ... her aam ... experience of ... of of the Opel brand of conflicts ... an end to this day I Bismarck was quite controversial ... because aam quirky little was complaining that the breeding weakens experience of over the full climbed ... onto the P a dispute that Japan is currently compound housing with it I know I he I haven't seen the East China Sea ... I'm and that the the the result of the Opel clan of the crisis ... which was able to up hold on ... to its sovereignty over those items ... they came at the cost of several hundred thousand people's minds ... and I think what's even more interesting is the parallel that we're seeing to South Korea's first female president Ms Park ... and Ms Baxter and the date many similarities there facing an oath ... on this of this president dealing with North Korea this totalitarian government ... on the market that should outweigh ... of the cold war of course ... the people in Korea especially comparing this part and dispatcher ... um that I know you you soak them yet it is important for ... present Park ... to assure herself that this can be good because TomTom is that conservative society ... aware of and did it to female readers have had ... difficulty of ... having an influence ... I so it's a boy compared to to to to to be known as a strong leader ... I didn't ... and she has stakes in the ... history of being beat up on ... both her parents was assassinated in ... aam grandfather was a constant ... and ... to you on her mother was a sense assassinated ... he served as first lady two of her father ... I'm and that when the father was assassinated ice sheet of famously said that ... the first thing she said was is the border the killer ... um so I'm ... that's that's the unit that that that's the snow had and her association with that with this isn't a factor ... between courses that image ... by some fantastic local story thank so much for joining us today Yuka hideout she Wall Street Journal reporter in Tokyo ... the data ... with this whole sees as a as a ... global world ... the nice together is difficult enough ... but what you do when you find out that your husband of nine years is gay ... that is the book with promise of a Taiwanese American director Ivan Shannon's new movie would use to love me tomorrow I might say I'm joined here by Senior Editor Dean of platonic ... so ... D what a stupendous and this may be exactly and and ... tells about it is a visitor from comedy to tragedy was that this sounds like a tragedy it's it's it's really a romantic comedy with some some dramatic elements as you mention the director of art in Cheyenne ... this is the second film ... but has his first film was was a fairly big kids a few years ago award and a ... romantic comedy ... um so he's gone back to the genre ... this time of the stories you mention this about a man approaching middle age ... who ... it is a closeted gay man and his thinking that maybe he took the wrong path getting married and having a child ... so ... a nice older lady at the of conquering special film festival was ever see it ... that the movie was that it had its premier but two nights ago this week and it was a huge hit Arvind Chen was was there along with this cast members they all got huge reception ... the film opens up in Taiwan next week ... in Hong Kong to recapture that and it plays into ... some ... later in April of that right but the film festival in New York City maybe you you mention to me yet that has millions of women see it that air of opening it was this a common thing in addition semis something you see and it isn't the last is well I'd say this is fairly common knowledge and ... Arvind shuns films as first don't have a lot of ... somewhat fantastical ... elements and this was ... this does do I won't reveal much ... believe the surprises for the audience when they see the film ... but debate you mentioned only of course one of his early films in Taiwan was the wedding banquet ... about a gay man who marries a woman to satisfy his ... his parents' desires any of the family ... but he also has a boyfriend ... the thing is it's a recurring theme apparently in Taiwan phonetic is back ... two decades one third the wedding banquet came out ... why is that something that seems to captivate the imagination of a higher high twenties that Santa Monica exactly I was talking to art and about debt to the other day and ... he said that Taiwan just it is very open and liberal ... about these ... issues and are welcoming to ... films about other days coming out of the closet also coming of age movies he he sees a parallel in ... stories about self awareness self discovery ... he likes to find the humor ... speaking on the obviously at the world's attention was going to tile a nice and I ... had dreamed this year's Oscars I like the pie in an ... entry of ... a number of Oscars ... at Oscar winning ... twenty fifty from timing a semi in the coming years due to the Civic has seen more Taiwanese phone maker is rising to the global stage but what it what are your have ... your addictions I think there are mentioned himself is on the is on the ... cost of getting wider recognition outside of Taiwan ... and Indonesia it would of been a for instance this film ... we still love me tomorrow had its premiere at the Berlin film Festival last month ... mention it's going to try it back to ... um it's also been picked up for release in the US so ... audiences in North American expect to see